Monday, September 14th saw the front-month NYMEX Natural Gas contract open at $2.872, $0.041 above Friday’s closing price of $2.831. Touching down to the intraday low of $2.852 at 9:35AM, prices were quick to rebound as cooling demand in the South and sustained LNG demand provided support. Trading cautiously higher throughout the duration of the session, the contract marked the intraday high of $2.906 at 2:15PM. October closed higher on Monday at $2.896.
The EIA Natural Gas Storage Report published last Thursday posted a 40 BCF injection to storage for the week ended September 4 – above the market estimate of 35 BCF. Working gas in storage was reported as 3,254 BCF; 2.4% below this time last year and 4.8% above the five-year average.
In Globex, as of 7:20AM this morning, WTI Crude was up $0.990; Natural Gas was up $0.004; Heating Oil was up $0.114; and Gasoline was up $0.030.
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